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why is it?

ddrane2115

ddrane2115

Charter Member
I am working on my home as some know. I made a purchase for the vinyl siding on my debit card, 1800.00 and change. The vinyl came in wrong, so I sent it back with the driver. Now, they were going to reorder and make sure the supplier got the right style this time. They call me to credit my card, which they say went thru as a credit, which I would not do normally. They do the credit, then want to charge my debit again with the correct amount, (they gave me 10% off, woopeeeeeee NOT) for my trouble. I check this morning and NO CREDIT HAS BEEN issued to my bank. Call bank and they tell me it could take up to 4 days for it to show up. The store told me they usually have it there the next day.........someone is lying or dont know their stuff.

My question is why does it take 30 seconds for a charge to show up, yet a credit takes so long? Does this make sense, they use the same process yet for credit it takes longer for me to get my money back than for them to charge me.

In this process they have also held up my project for how ever long it takes to get my money back in my account.
 
I'm sure they do it to hold on to the money longer and make in the interest.

but as you say your being held up with the project and that is the bit that gets me most.
 
It's part of their 'profit margin'. The longer they, the bank, can hold your money, the more intrest they get, off of your money.
 
FWIW... using it as a credit is better for your bank than a debit. This is purely from a bottom line standpoint. You are protected by law from the electronic transaction either way. My wife used to work at ours, that's the only reason I know that...
 
rback33 said:
FWIW... using it as a credit is better for your bank than a debit. This is purely from a bottom line standpoint. You are protected by law from the electronic transaction either way. My wife used to work at ours, that's the only reason I know that...
Click to expand...


I dont have a credit card with the bank, dont have but one any way. Either way the people at Lowes have my money and until I get it back they are satan!!!!
 
ddrane2115 said:
I dont have a credit card with the bank, dont have but one any way. Either way the people at Lowes have my money and until I get it back they are satan!!!!
Click to expand...

I have never seen a debit card that could NOT be run as a credit as well. It comes out of your account just the same. Next time you use it, look at the screen. It probably has a button for you to push to use it as credit rather than punching your pin and doing a debit. It still come out of your account, but the transaction takes a slightly different path.
 
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